Forbes India 15th Anniversary Special

Entrepreneur, Daryl Taylor, combines waste tracking with blockchain

INVIZION is the embodiment of how an idea came to reality.

Published: Sep 18, 2020 11:45:20 AM IST
Updated: Sep 30, 2020 05:01:00 PM IST

Entrepreneur, Daryl Taylor, combines waste tracking with blockchain
Tell us about INVIZION?

Our technology is becoming so advanced, but the environmental state of this planet is moving backward. Last year, I had a vision to utilize the power or blockchain technology and build a solution which benefits all. With the help of my incredible team and partnerships, we are now making this possible. 

INVIZION is the embodiment of how an idea came to reality. Our aim can be explained in simple terms: to combine blockchain technology, DeFi (Decentralized Finance) and IoT (Internet of Things) solutions to achieve a single goal - recycling waste into renewable, green energy in the most efficient and technologically advanced way possible.

Is it common to use blockchain technology to benefit the environment? Has something similar been done before? 

Unfortunately it isn’t, and blockchains have quite a bad reputation among people who are environmentally conscious, or who just want to use environmental discourse to oppose radically new technologies. It’s all due to the high energy cost of Bitcoin mining - it’s a fact that mining Bitcoin consumes a lot of energy, but at INVIZION we believe that blockchain technology doesn’t have to impact our planet negatively, and that it can even be applied in order to help the environment and counteract the energy it consumes.

The question I asked my business partner, Russ Lema, when we first had the idea that eventually materialized as INVIZION was: what if the conception of blockchain technology as something that doesn’t do much more besides consuming a lot of energy was reversed, and blockchain could actually be used to produce clean, renewable energy?

After years of forming this vision into reality, we came up with a complete solution: we can use blockchain technology to help produce green, renewable energy by applying DeFi-like solutions to the process of waste tracking. To put it simply, INVIZION uses the NVZN token to track waste on the blockchain, in order to make sure that the waste is recycled in a responsible, ecological way, instead of being disposed of in ways that are harmful to the environment. In addition, this digital token allows users to join us in funding other green energy projects around the globe and benefit from it. 

There’s been a lot of talk recently about this technology being presented to the United Nations, can you tell us more about it?

Yes! Recently, we partnered with a company called CETS Technologies that developed a method of turning any kind of waste into renewable energy. CETS Technologies was invited by the United Nations General Assembly on September 21–23, 2020, where they will present NVZN along with the amazing solutions they have developed. Think about it, its revolutionary - a groundbreaking method of turning any kind of waste into clean, low-cost, electrical generated energy, in a patented process that is completely environmentally safe, and leaves no harmful byproducts.

Why do you think waste tracking is such an important issue that even the UN General Assembly is interested in it?

Waste is a global issue. ​It affects everyone. The ​World Bank estimates that overall ​waste generation will increase to 3.40 billion metric tons by 2050, and only 5.5% of our current generated waste is composted​. Unless this problem is properly addressed, waste will continue to be an increasing threat to public health and the environment. It is a growing issue that’s directly linked to the way society produces and consumes.

Unfortunately, even in technologically advanced countries, proper standards of sanitation and solid waste management are rarely enforced — in particular because of outdated and highly ineffective methods of waste tracking.

As of now, tracking waste is a semi-manual process that can be, and has previously been, exploited. The waste is produced and shipped to a place where it’s expected to be recycled or safely disposed of, but in practice this process is vulnerable to human error or ill-will along the way. To put it simply, it’s far too easy for corporations and individuals to make profit by tampering with the waste tracking systems, and dispose of waste in the cheapest, and most unsustainable way possible. 

How will changing the way we track waste affect ordinary people?

Waste management is an essential utility service, regarded as a basic human right, and constitutes the backbone of society both in developed and developing countries, particularly in urban areas. Ineffective methods of disposal are actually spreading toxicity like wildfire and causing chemicals to trickle into water intakes, such as nearby rivers and lakes, which eventually end up in the ocean or our tap water at home.

The innovative method of waste tracking provided by INVIZION has financial benefits as well, as it can grant up to 20% reduction of the current monetary cost of waste disposal. But more importantly, by reducing the carbon footprint of waste tracking by 30%, and making sure that toxic waste is disposed of safely, we can help improve the health and well-being of society as a whole, and assure the green future for our planet.

Why are you so passionate about this business you’ve created?

I first learned about blockchain in 2014 when a potential client for a services business I had at that time offered to pay in Bitcoin. But It wasn't until 2019 that I realised my strong desire to be involved. I saw an open industry with no structure but ready to be structured. In other words, a vast space full of opportunities.

When the huge crypto crash happened in 2017, and people started to lose interest, I was fully invested in envisioning ways in which blockchain technology could be used in sectors relating to energy efficiency and renewable energy. These visions of a better, greener future available through blockchain eventually formed into the name INVIZION, which my partner Russ Lema came up with. We truly think about INVIZION as something more than just a business - we consider it a platform that provides complete solutions in which blockchain technology can be used to protect the natural world, and our planet.

INVIZION seems to be a rapidly evolving project, what’s next in line for you?

We are building a strong network of supporters and partners, but the presentation at the UN General Assembly is definitely what excites me the most! The possibility to present a technology that has groundbreaking potential to revolutionize the way in which our society as a whole deals with waste is an amazing opportunity. Most crypto projects will never have a chance like this, but we are not becoming complacent. The core idea of INVIZION is constantly envisioning new ways in which we can improve. We have a lot more in the pipeline which will be updated on our active social media platforms and website, so make sure to join our community and stay tuned!


Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.

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